• IMF Research Bulletin

Publisher:
International Monetary Fund
Publication date:
2008-07-07
ISBN:
1020-8313

Latest documents

  • Interview With Gita Gopinath
  • Technological Change And The Future Of Work
  • Is Misallocation Really Mismeasurement?
  • The Power Of Text
  • Our Common Energy Future
  • Adieu to Maury

    Maurice (Maury) Obstfeld, our chief economist and RES Director, is retiring at the end of the year after more than three years on the job. His time here has been marked by many achievements, of which this short column can only elucidate a couple, while conveying some of the more personal and intangible aspects that we learned about him and that have influenced IMF staff over his tenure.

  • Frontiers of Monetary Policy: Interview with Doug Laxton on the new book Advancing the Frontiers of Monetary Policy with Tobias Adrian and Maurice Obstfeld

    Since the global financial crisis, the scope of central banking has expanded and new challenges have arisen. Marika Santoro interviews Doug Laxton, one of the authors of the IMF book Advancing the Frontiers of Monetary Policy. In their discussion, Doug will guide us through the development of new tools and frameworks at central banks. The conversation will also review central banks’ communication strategies and how transparency has become key in managing expectations and engendering macroeconomic stability.

  • Housing Strikes Back: Remaining Attuned to Risks

    It’s déjà vu all over again! House prices are going through the roof in major cities across the globe, reviving memories of the US boom that ended in a global financial meltdown.1 They are also raising concern about affordability, with millennials increasingly priced out and at risk of turning into "forever renters.

  • Tariffs in a Globalized World
  • Policymaking: New Frontiers Using Big Data

    In our previous issue, we flashed how the wave of big data has been a game changer in the past decade and what new avenues it can open for the field of economics. More important (if you are a policymaker), the large pool of information available digitally can provide new tools to guide and support policy decisions. The capability to produce new indicators, tackle official data time lags, and support forecasting can be vital for increasing the speed of inception and implementation in policymaking. A wide array of projects at the IMF has recently aimed to explore the potential in this area.

Featured documents

  • Monetary Policy Cyclicality in Emerging Markets

    Does monetary policy help smooth or amplify economic cycles? In most advanced markets monetary policy helps smooth cycles. However, for emerging markets, procyclical monetary policy has been a problem, with macroeconomic policies amplifying economic upswings and deepening downturns. This article...

  • The Quest for Stability in Housing Markets

    Recent developments in global house prices have led to seemingly contradictory concerns about both overheating and slow recovery, reflecting house price booms in some countries and declining prices in others. This note discusses developments in global housing markets since the Great Recession-...

  • Q&A: Seven Questions on Estimating the Monetary Transmission Mechanism in Low-Income Countries

    The use of conventional vector auto-regression (VAR)-based methods to identify the monetary transmission mechanism (MTM) in low income countries suggests the MTM may be weaker and less reliable than in advanced and emerging market economies. But are structural VARs identified via short-run...

  • IMF Working Papers
  • Two Sides of the Same Coin? Rebalancing and Inclusive Growth in China

    China’s remarkable growth has been hailed as the greatest development story of all time. However, its success is somewhat undermined by a sharp rise in income inequality. While most countries have also become less equal since 1990, the deterioration has been especially severe in China’s case and...

  • Reforming Dual Labor Markets In Advanced Economies

    Labor market duality has increased dramatically in many advanced countries in recent years. While duality has some positive aspects, microeconomic and cross-country studies suggest that an excessive reliance on “non-regular” employment has a negative impact on total factor productivity (TFP) and...

  • Winning the Oil Lottery: The Impact of Natural Resource Extraction on Growth

    This summary provides evidence of the causal impact of oil discoveries on development. Novel data on the drilling of 20,000 oil wells in Brazil allows us to exploit a quasiexperiment. Municipalities where oil was discovered constitute the treatment group, while municipalities with drilling but no...

  • Housing Strikes Back: Remaining Attuned to Risks

    It’s déjà vu all over again! House prices are going through the roof in major cities across the globe, reviving memories of the US boom that ended in a global financial meltdown.1 They are also raising concern about affordability, with millennials increasingly priced out and at risk of turning into ...

  • Q&A: Seven Questions on Islamic Finance

    Although still a small share of global finance, Islamic finance has grown rapidly over the past decade and is projected to continue to expand. The growth of Islamic finance presents opportunities to improve access to finance for the large underserved Muslim populations, and for small- and medium-siz...

  • Policymaking: New Frontiers Using Big Data

    In our previous issue, we flashed how the wave of big data has been a game changer in the past decade and what new avenues it can open for the field of economics. More important (if you are a policymaker), the large pool of information available digitally can provide new tools to guide and support...